Oil and gas company sells shares at 16.67% discount to closing price
By Devika Patel
Knoxville, Tenn., Nov. 29 - AltaCanada Energy Corp. said it plans a private placement of stock. It will raise C$4.5 million.
The company will sell the shares at C$0.05 apiece.
The price per share reflects a 16.67% discount to the Nov. 26 closing share price of C$0.06.
Proceeds will reduce trade payables and enable AltaCanada to pursue its drilling program.
Calgary, Alta.-based AltaCanada Energy is an oil and gas company.
| Issuer: | AltaCanada Energy Corp.
|
| Issue: | Shares
|
| Amount: | C$4.5 million
|
| Price: | C$0.05
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | Nov. 29
|
| Stock symbol: | TSX Venture: ANG
|
| Stock price: | C$0.06 at close Nov. 29
|
| Market capitalization: | C$10.02 million
|
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